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ALLERGAN INCREASES SECOND QUARTER DIVIDEND; BOARD APPROVES ADDITIONAL STOCK REPURCHASE

 ALLERGAN INCREASES SECOND QUARTER DIVIDEND;
 BOARD APPROVES ADDITIONAL STOCK REPURCHASE
 IRVINE, Calif., July 28 /PRNewswire/ -- Allergan (NYSE: AGN) announced today it will increase its second quarter dividend to $0.10 per share, payable Sept. 15, 1992, to stockholders of record on Aug. 26, 1992.
 "Our decision to increase the dividend, along with approval by the board to continue the stock buyback program, indicates our current positive cash flow and our confidence in the future" said William C. Shepherd, president and chief executive officer.
 The ongoing program approved today permits Allergan to buy back up to an additional 1,200,000 shares of stock for the company treasury to meet the requirements of its employee-incentive plans. The company previously announced a stock repurchase plan in September 1990. Since that time, more than 1,000,000 shares have been repurchased for its employee-incentive plans.
 "It is important to point out that our No. 1 priority on utilizing our cash is to invest to grow the top line. This includes technology, compounds, products and product lines," said Shepherd. Cash and equivalents were $139.5 million on June 30, 1992. Net debt at the end of the second quarter was $5.8 million, compared to $79.6 million a year ago.
 Allergan Inc., headquartered in Irvine, is a global provider of specialty therapeutic products; is expanding beyond skin care and its leadership position in eye care into adjacent markets; and is pursuing other core technologies.
 -0- 7/28/92
 /CONTACT: Shel Holtz (media), 714-752-4387 (work) or 818-366-5296 (home), or Jeff D'Eliscu (investors), 714-752-4636 (work) or 714-675-9475 (home) both of Allergan/
 (AGN) CO: Allergan Inc. ST: California IN: MTC SU: DIV


KJ -- LA032 -- 4251 07/28/92 16:32 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
Words:285
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